Posted by Tom Bazley, CPA on May 05, 2004 at 11:44:19:
It would be too voluminous to go into the pros & cons of each, but in a nutshell, do not hold real property in a corp. From a tax perspective, the negatives far outweigh any positives there may be. LLCs and, in some cases, LPs are very good for holding real property. LLCs are probably the best bet, because they offer the same liability protection that a corp does & single member LLCs have no additional tax filing requirements. You need to speak w/ a competent tax advisor to see what’s best for your particular situation.